(Translation) 1600 / 036 / 2542 April 22, 1999 The Stock Exchange of Thailand 62, Ratchadapisek Road, Klongtoey Bangkok 10110 Attention:President of The Stock Exchange of Thailand SubjectThe confirmation of the companys generally accepted accounting principles and efficient and profitable operation. The Bangchak Petroleum Public Company Limited strongly rejects the articles reported in two newspapers dated April 22, 1999 which refer to the unnamed source from the PTT providing misinformation regarding the Company's operating status and accounting system. The Company confirms the fact that our accounting system has always been maintained according to the internationally acceptable standard throughout 14-year history. This is also the period, through which our company had grown and generated normal operating profit on continuous basis.The Company is a public company listed in the Stock Exchange of Thailand and, as a result, must maintain the generally accepted accounting principles of the Institute of Certified Accountants and Auditors of Thailand, and the International Accounting Standard - IAS. The Company hired the internationally known accounting firm-Price Water House as the Company's adviser in developing our accounting system from the beginning. And, throughout the 14 years of operation, the Company's accounting system and financial statements have been properly audited by the Office of the Auditor- General. In terms of operation, the Company conducts the business with the unique corporate culture that calls for the ongoing contribution to the Thai society and the conservation of the environment. This in turn has made our customers become supportive to our cause and business and consequently contributes to our growth. The reporting of false information of anyone who tries to distort the facts causing damage to the company and shareholders, especially the minor shareholders, is illegal according to the securities and exchange act The company will therefore pursue a lawsuit against such person. Please be informed accordingly. Yours sincerely, Rabil Pornpatkul Senior Manager, Corporate Planning Office Corporate Planning Office Tel: 301-2842